Newark healthcare firm sold to national rival
Raphael Healthcare, the provider low secure mental health services for women in Fardon, Newark, has been sold to a national operator.
Elysium Healthcare, which was established in 2016 following the merger between Partnerships in Care and Priory Group, and which specialises in acute mental illness, personality disorders, eating disorders, secure and rehabilitation care across its 22 sites, has swooped for the Newark firm.
Raphael Healthcare was established in 2004 and as well as its Newark base has a site with planning permission for a tier 4 CAMHS unit at Briars Hey in Prescot, Lancashire.
A team at Browne Jacobson advised the shareholders. Corporate finance partner and head of independent healthcare, Oliver Pritchard, led the team and was assisted by Joel Nixon (corporate finance), Andrew Noble (tax), Mark Lewis (property) and Adriana Klincova (banking).
Justin Crowther, head of Catalyst Corporate Finance, provided corporate finance advice to the selling shareholders.
Claire Thomson, CEO of Raphael Healthcare, said: “We are extremely proud of the award winning service that we provide to our patients and stakeholders.
“The business has found a good new owner in Elysium who have the same values as us, placing a strong emphasis on quality and the same client focused values.
“This is a tremendous opportunity and natural progression for Raphael and one that should benefit service users, commissioners and our staff. The significant efforts and quality of advice provided by Catalyst and Browne Jacobson ensured that we concluded this deal swiftly and to the satisfaction of all parties”.
Oliver Pritchard of Browne Jacobson, added: “We have worked with Raphael’s senior team for several years while they have worked tremendously hard to develop a market leading brand and reputation so we are delighted to have secured a successful outcome for the shareholders.
“This transaction underpins our reputation as a market leading provider of corporate support services to the independent healthcare sector.”
